Burnaby residential redevelopment site sold for $25M

The properties are currently zoned for industrial but can be rezoned for high density residential development

By
for Western Investor
October 5, 2017





douglas rd
 
Two industrial properties near Brentwood mall in Burnaby have sold for $25 million, Lee & Associates reports. 
 
The properties are currently zoned M-2 for manufacturing use. The sites can potentially be rezoned to RM-55 as per the Brentwood Neighbourhood Plan in Burnaby’s Official Community Plan. The properties include two, two-storey industrial buildings. The building at 2152 Douglas Rd. is 21,318 square feet, while the building at 2172 Douglas Rd. is 14,200 square feet. 
 
The properties are located near several new developments, including the Solo District and the Affinity Towers. 
 

Breakdown:

 
Price: $25,000,000 
No. of Units:
Price/Unit: 12,500,000
Lot Size: 1.49 acres 
Property Type: Industrial 
Zoning: M-2
2016 B.C. Assessment Value: $15,151,100
City: Burnaby    
Province: B.C. 
Name of Brokerage: Lee & Associates 

 

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Chris specializes in industrial and commercial sales, primarily in focused on Burnaby and the Tri-Cities.

Lee & Associates
Suite 800, 475 West Georgia Street
Vancouver, B.C. V6B 4M9
Office: 604-630-3392

Steve is a founding partner of Lee & Associates and is the designated industrial broker for the firm.

Lee & Associates
Suite 800, 475 West Georgia Street
Vancouver, B.C. V6B 4M9
Office: 604-895-2224

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